Often a value investing story comes to mind and this is one worth telling imo.
Exide, now XIDE has been a stock plagued by scandal, CEO departures, reorganizations, losses, failed restructings and the like. Recommended to me by a fellow value investor aroug 2.50 a share, I took a look at the books, I noticed that the CEO abandoned it (Now CEO of GM)and I threw the idea out. Even George Soros through the idea out and sold his holdings for a loss. " But is the world's largest baterry maker, both internationally and domestically" he said. "There just has to be a long term future in batteries".
Could you just imagine the patience, fortitude, and conviction of someone buying the March 2006 dip? Goodness, that had to be tuff. Beyond my psychological capability at times. People want performance and they want it now. Just goes to show how tuff it is to be a value investor at times.
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